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A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

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1.A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit.

2.A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

GameStop’s stock price fell a bit closer to earth on Thursday, dropping by about a third, or about $115, to $235. … its “short squeeze” of hedge funds that had bet against the company’s shares …

3.A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

Melvin Capital Management, the hedge fund in this case, had to start buying the same stock at a higher price because it had to cover its short. The stock price had gone from about $20 at the start of 2021 to more than $347 before the close of trading on Wednesday.

4.A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

That would have protected the investor from a short squeeze causing a spike in GameStop’s price, at the cost of some of the potential profits if the company’s shares did continue falling toward…

5.A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

By now you must have heard of GameStop and how a Reddit forum of stock and option traders on r/wallstreetbets have been massively buying up shares of GameStop in a bid to prevent Wall Street hedge funds from running the video game retailer into the ground and profiting from their short trades. Year to date, the share price of GameStop has risen from US$17.25 to US$325.00 (as of 31 January 2021).

6.A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

The stock, which was trading at less than $20 per share earlier this month, was deemed by members of the r/WallStreetBets subreddit to be under attack by a hedge fund which had disclosed a large …

7.A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

Segment 1, beginning at 4:12: This David and Goliath battle has seen GameStop’s market value go from $2 billion to more than $24 billion in a matter of days. When users in the Reddit group Wall Street Bets noticed that hedge funds were shorting GameStop stock, they used their superior numbers to buy shares at a rate that resulted in a “short squeeze” that has yet to let up.

8.A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

My first experience with a short squeeze was in 1991. I was working for a bearish hedge fund that had just wrapped up a bountiful 1990. The economy was sinking into recession, the banking system …

9.A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

Citron Research’s Andrew Left, for instance, stated on Wednesday that the firm has closed most of its short position at a loss of 100% when GameStop’s stock traded around $90.

10.A coordinated short squeeze targeting American hedge funds causes GameStop’s stock price to spike

Short squeeze. In the stock market, a short squeeze is a rapid increase in the price of a stock owing primarily to … The GameStop short squeeze, starting in January 2021, is an ongoing short squeeze occurring on shares of GameStop, primarily … “GameStop mania explained: How the Reddit retail trading crowd ran over Wall Street pros”.

News results

1.How Reddit posters made millions as Wall Street lost billions on GameStop’s wild stock ride

Its posters talk about taking revenge on the hedge funds … would cause a short squeeze and the stock price to soar. The coordinated buying effort has caused some to call GameStop’s stock surge …

Published Date: 2021-01-29T08:45:00.0000000Z

1.GameStop short squeeze

January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial…

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